Monday, December 04, 2006

Forex News: Eurozone producer prices index remained unchanged in October

Forex News

Manufacturers prices in Eurozone have remained unchanged from September to October, helped by the third consecutive decline in energy prices, says Eurostat.

In the last twelve months, producer prices increased by 4.0%. October’s data came up slightly better than expected, since analysts expected a 0.1% monthly rise and 4.0% on a year basis.

Prices of energy have fallen 0.5% from September, and 5.3% since October 2005. Nevertheless seems very unlikely that this moderation of prices will suppose an obstacle for the ECB to raise interest rates to 3.5% in their next meeting on Thursday.